PulteGroup, Inc. $PHM Position Cut by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank cut its PulteGroup stake by 16.3% in Q4, selling 92,625 shares and holding 477,160 shares worth about $55.95 million at quarter-end, while institutional investors own 89.90% of the company.
• Insiders have been net sellers recently: EVP Kevin A. Henry sold 5,173 shares and Ryan Marshall sold 111,250 shares, with insiders disposing of 149,952 shares worth roughly $20.16 million in the last 90 days (insiders now own 0.75%).
• Analysts show a consensus "Moderate Buy" on PulteGroup with an average target of $138.79, versus a recent share price around $127.30 and a 52-week range of $91.76–$144.49, with a 0.8% dividend yield.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 477,160 shares of the construction company's stock after selling 92,625 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.24% of PulteGroup worth $55,952,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of PulteGroup by 2.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,599 shares of the construction company's stock worth $891,000 after purchasing an additional 175 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of PulteGroup during the fourth quarter valued at about $2,183,000. OLD Second National Bank of Aurora lifted its holdings in PulteGroup by 0.9% in the fourth quarter. OLD Second National Bank of Aurora now owns 41,007 shares of the construction company's stock worth $4,808,000 after purchasing an additional 362 shares during the period. River Street Advisors LLC lifted its holdings in PulteGroup by 5.8% in the fourth quarter. River Street Advisors LLC now owns 9,357 shares of the construction company's stock worth $1,097,000 after purchasing an additional 517 shares during the period. Finally, Merit Financial Group LLC grew its position in PulteGroup by 26.4% in the 4th quarter. Merit Financial Group LLC now owns 27,109 shares of the construction company's stock valued at $3,179,000 after buying an additional 5,663 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Insider Activity

In other news, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the sale, the executive vice president owned 14,673 shares in the company, valued at approximately $2,069,333.19. This represents a 26.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the sale, the insider owned 659,392 shares of the company's stock, valued at $88,266,213.12. This trade represents a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 149,952 shares of company stock valued at $20,162,165 in the last ninety days. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore raised shares of PulteGroup from an "in-line" rating to an "outperform" rating and set a $146.00 target price on the stock in a research note on Monday, April 13th. Wells Fargo & Company reduced their price target on shares of PulteGroup from $150.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They issued a "market outperform" rating and a $145.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada boosted their target price on PulteGroup from $111.00 to $115.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $138.79.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $127.30 on Tuesday. PulteGroup, Inc. has a 52 week low of $91.76 and a 52 week high of $144.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $24.39 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.33. The company's 50-day moving average price is $126.44 and its two-hundred day moving average price is $124.75.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup's dividend payout ratio is currently 9.35%.

PulteGroup Company Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.